Texas Natural Resources Code

Sec. § 161.176
Use of Fund to Pay Bond Expenses


The board may use money in the fund attributable to bonds issued and sold to pay:

(1)

legal fees and fees for financial advice necessary in the opinion of the board to the sale of bonds;

(2)

the expense of publishing notice of sale of an installment of bonds;

(3)

the expense of printing the bonds;

(4)

the expenses of issuance of the bonds, including the actual costs of travel, lodging, and meals of board members, officers or employees of the board, the comptroller, and the attorney general that are necessary in the opinion of the board to effectuate the issuance, rating, and delivery of the bonds;

(5)

the cost of manually signing the bonds;

(6)

remuneration to any agent employed by the board to pay the principal of and interest on the bonds;

(7)

any amounts required to be paid to maintain the federal tax exemption of interest on the bonds; and

(8)

all other costs, fees, and expenses relating to the issuance of the bonds.
Acts 1977, 65th Leg., p. 2663, ch. 871, art. I, Sec. 1, eff. Sept. 1, 1977. Amended by Acts 1989, 71st Leg., ch. 720, Sec. 3, eff. June 14, 1989; Acts 1993, 73rd Leg., ch. 242, Sec. 1.21, eff. Aug. 30, 1993; Acts 1997, 75th Leg., ch. 1423, Sec. 14.18, eff. Sept. 1, 1997.
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Last accessed
Jun. 7, 2021